During Market hours Yesterday — (Thursday – 12.05.2022):
- The Dow (Symbol: DIA) went down 0.26%. The S&P 500 (Symbol: SPY) sank 0.1% and the Nasdaq (Symbol: QQQ) lost 0.24%.
- Carvana (Symbol: CVNA) — Shares of the online used-car retailer popped 25%, alongside other heavily shorted stocks. Nearly 29% of Carvana shares available for trading are sold short, according to FactSet. The company has faced negative sentiment on Wall Street recently, with downgrades this month from Stifel, Morgan Stanley and Wells Fargo.
- Tapestry (Symbol: TPR) — Shares soared 15.5% after the luxury company behind Coach and Kate Spade reported that it expects Covid-related shutdowns in China to ease in June. Tapestry also reported an adjusted quarterly profit of 51 cents per share, which topped a consensus estimate from Refinitiv.
- WeWork (Symbol: WE) — Shares jumped 10.4% after the coworking space company posted its first-quarter results. WeWork reported an adjusted earnings per share loss of 57 cents on revenue of $765 million. That loss was 37% lower than in the previous quarter.
- Rivian (Symbol: RIVN), Lucid (Symbol: LCID) — Shares of several electric vehicle companies surged in midday trading in unexplained trading. Rivian’s stock price soared 18% after the electric vehicle maker on Wednesday said it’s on track to build 25,000 vehicles this year, as well as a first-quarter loss that was slightly less than analysts were expecting. Lucid’s stock price jumped 13.2%.
- Sonos (Symbol: SONO) — Shares jumped 14.3% after the of high-end audio products maker reported better-than-expected revenue for its most recent quarter amid continued high demand. Revenue for the quarter came in at $399 million, compared to a Refinitiv forecast of $350 million.
- Bumble (Symbol: BMBL) — The dating app operator’s shares jumped 26.8% after the company reported $211.2 million in revenue for the first quarter, which exceeded analysts’ estimates of $208.3 million, according to Refinitiv. The company also said it saw a 7.2% increase in paying users for the quarter.
During Premarket hours today – (Friday – 13.05.2022):
- Twitter (Symbol: TWTR) – Twitter tumbled 14.6% in premarket trading after Elon Musk tweeted that his deal to buy the company was “temporarily” on hold, as he awaits details on the number of fake and spam accounts on the platform.
- Affirm Holdings (Symbol: AFRM) – Affirm reported a quarterly loss of 19 cents per share, smaller than the 51 cent loss that analysts were anticipating, with the fintech company’s revenue beating forecasts. Affirm also raised its full-year revenue outlook and announced the extension of its ongoing partnership with e-commerce platform operator Shopify. The stock rocketed 33.8% higher in the premarket.
- Robinhood Markets (Symbol: HOOD) – Robinhood soared 22.4% in premarket trading after Sam Bankman-Fried – who founded cryptocurrency exchange FTX – revealed a 7.6% stake in a regulatory filing. The purchase makes him the third largest shareholder in the trading platform company.
- MicroStrategy (Symbol: MSTR) – MicroStrategy rallied 13.9% in premarket action in what’s been a volatile week for the business analytics company. MicroStrategy, which has extensive bitcoin holdings, saw its stock fall more than 25% on both Monday and Wednesday before rising yesterday.
- Duolingo (Symbol: DUOL) – The language software provider’s stock surged 15.3% in the premarket after it reported a narrower quarterly loss and better than expected revenue. Duolingo said active user numbers are at an all-time high, and it issued upbeat current quarter revenue guidance.
- Figs (Symbol: FIGS) – The health care apparel company saw its stock plummet 25.2% in premarket trading after it missed estimates with its latest quarterly results and issued weaker than expected full-year guidance.
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